Page 3683 - Week 08 - Thursday, 19 August 2010
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A stable public service also serves to reduce uncertainty and allow local businesses to invest with confidence and contribute to employment growth. And, yes, we understand that the commonwealth government needs to make some tough decisions to constrain its expenditure, as we have also had to do as a result of the global financial downturn. The federal government has made no secret of its plan to repair its own budget over time. Indeed, this has been the same strategy of this government, one that is appropriate to our circumstances, to our economy, to our community. This strategy was incorporated into the 2009-10 budgets for both governments. We share a long-term vision.
But let me be quite clear. There is a world of difference between the well considered and the well known, the gradual and strategic policy direction of the current federal Labor government, and the knee-jerk, slash and burn, short-sighted Canberra-bashing declarations of the federal opposition.
Ask any household what is easier: to gradually adjust a household budget over time to a change in financial circumstances or to suddenly lose your primary source of income without any warning? For households in the ACT, it is quite obvious that, under the federal opposition, they are facing the second scenario.
Ask any business what is better: to operate in an environment of stability, notwithstanding your major client says that they will be revising down their activity while remaining positive, or to have your major client suddenly just stop buying? There is no doubt for businesses in the ACT the stability and certainty currently provided by the federal Labor government will be replaced with a period of turmoil, uncertainty and increasing challenge under a coalition government.
The key element that I believe is in danger of being overlooked in this debate is the positive influence of a strong ACT economy on the surrounding region. The ACT is the heart of a dynamic and growing region. As the largest city in the Australian capital region, Canberra is the economic centre. It is also the main employment and service centre. The ACT provides many services and opportunities for residents in New South Wales, in particular transport, education, health, retailing, tertiary industry and cultural facilities. The territory’s ability to continue to provide these high-quality services will be eroded under a coalition government.
Additional population and revenue from the surrounding region has assisted Canberra-based businesses to grow and become more sustainable. This is anticipated to continue to grow into the future. By 2031, current projections indicate that the ACT and surrounding region will have a population of nearly 600,000 people. The ACT’s population alone is projected to reach 438,000.
The outlook for growth in the region is predicted on a strong ACT-based economic performance. Development in those regions surrounding the ACT has reached fever pitch level in recent times. Of the five fastest growing inland regions in New South Wales, three of these areas—that is, Palerang Council, Yass Valley and Queanbeyan—share borders with the ACT. For example, from 1996 to 2006, the ACT grew by 8.4 per cent, compared to Queanbeyan which grew by 29.3 per cent, and
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